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cnbc.com
CNBC Daily Open: Washington's house is divided over interest rates
On interest rates, Washington's house cannot even agree on which direction to take.
bbc.co.uk
Volkswagen board approves plan to cut another 50,000 jobs
The group - which includes Audi, Porsche, Skoda as well as the VW brand - plans to cut a total of 100,000 by 2030.
cnbc.com
South Korea's AI rally is reshaping romance, reality shows and academic preferences
South Korea rally is changing what Koreans watch, how Koreans date, and what Koreans study.
cnbc.com
A 'shakeout' in early-stage AI may be coming as VC money gets pickier on valuations
Investors should keep an eye out for excessive valuations and focus on productivity when it comes to investing in AI companies, market watchers say.
cnbc.com
'No steering wheel, no pedals': Tesla teases fans ahead of long-awaited Cybercab update
Tesla first unveiled the Cybercab almost two years ago, and fans of the company have been waiting to hear more.
bbc.co.uk
'I lost my savings after a job interview scam'
Job seekers, especially Gen Z, are being targeted with fake, booby-trapped recruitment apps.
bbc.co.uk
Is India's internet boom running into an undersea problem?
At least 13 of India's 18 intercontinental cables come ashore within six kilometres of Mumbai's Versova beach.
bbc.co.uk
From cake to pizza: How to get the best birthday freebies (and why there's a catch)
Cake, coffee, make-up and burgers are just some of the free things you can get on your birthday.
bbc.co.uk
Controversial Jackdaw gas field set to be approved in weeks, sources say
The government is set to give the go-ahead for the gas field off the coast of Aberdeen, the BBC understands.
cnbc.com
Adobe names Anil Chakravarthy as CEO, replacing Shantanu Narayen
Adobe announced Anil Chakravarthy as its next CEO, replacing Shantanu Narayen, who announced his departure last March.
cnbc.com
OpenAI begins rolling out Astra model after warning of its advanced cyber capabilities
OpenAI said companies participating in its application-based cybersecurity program will be first to get access to Astra.
cnbc.com
Automakers urge Congress to permanently ban Chinese connected vehicles in U.S.
Major automakers in the U.S. are urging Congress to ban the domestic sale, import and manufacturing of Chinese connected vehicles, hardware and software.
cnbc.com
Lululemon stock plunges 15% on disappointing earnings and outlook
Lululemon posted another quarter of disappointing results and a sales slowdown as the company struggles to turn its business around.
cnbc.com
Carney claps back at Lutnick, says Canada will resume trade talks 'when the Americans are ready'
Canada has retaliated against President Donald Trump's 50% tariffs with "dollar for dollar" duties on U.S. goods, which are set to take effect next week.
cnbc.com
Zscaler stock rises on earnings beat, upbeat guidance
CEO Jay Chaudhry said he's "very bullish" on Zscaler's agentic Zero Trust offering, which is gaining early momentum
bbc.co.uk
Watch: Trump $1 commemorative coin goes on sale
The US Mint began selling gold-coloured $1(£0.74) coins featuring President Donald Trump's likeness to mark the country's 250th anniversary.
cnbc.com
ChargePoint CEO says 70% stock surge 'is the beginning of the momentum'
The infrastructure company is toward the end of a three-year business plan that has boosted revenue and significantly cut the company's losses.
cnbc.com
The big August jobs report is due out Friday. Here's what to expect for what has been a jobless summer
August nonfarm payrolls are expected to rise by 53,000 as a subdued labor market keeps Fed attention focused on inflation.
cnbc.com
Oil prices little changed after Iran fires missiles at Kuwait
U.S. oil prices have gained more than 9% this week as Washington and Tehran have traded military strikes for the first time since July.
cnbc.com
Microsoft to impose time limits on Xbox cloud gaming subscribers as costs continue to climb
Xbox Game Pass subscribers will have cloud gaming capped starting in November.
theguardian.com
OpenAI hails ‘new era of artificial general intelligence’ with Astra model release
Astra’s arrival comes days after Sam Altman, OpenAI’s chief executive, described AGI as an ‘irrelevant marketing term’The president of OpenAI, Greg Brockman, has claimed the world has entered a new era of artificial general intelligence after the release of his company’s latest model, Astra, which it described as the “world’s most intelligent and aligned model”.Brockman made the claim on Thursday as the San Francisco company released the model only weeks after a serious AI safety incident involving other models under its development caused international concern and a pause in Astra’s training. Continue reading...
cnbc.com
Yen jumps to one-month high as traders weigh chance of further intervention
U.S. Treasury Secretary Scott Bessent told CNBC on Monday he believed Japanese authorities would take action to lead to a stronger yen.
theguardian.com
UK mortgage borrowers brace for rate jump amid global bond sell-off
Swap rates rise to three-year high as increase in oil prices leads to fears of higher inflationBusiness live – latest updatesHomeowners in the UK are braced for a jump in mortgage rates, driven by higher inflation and interest rate increase expectations amid turmoil in the global bond markets.UK swap rates, which lenders use to price mortgages, have risen to a three-year high, as this week’s global bond market sell-off ripples through the economy. Continue reading...
cnbc.com
Leon Black sues House Oversight over Epstein probe subpoenas, won't appear Thursday
Black's attorneys say the NDAs being sought by the panel have nothing to do with his dealings with notorious sex offender Jeffrey Epstein.
theguardian.com
Nvidia to buy developer platform Hugging Face in $12.9bn deal
Semi-conductor giant bets that support for open AI models could offset potential slowdown in demand for chipsNvidia will buy the popular developer platform Hugging Face for nearly $13bn, betting that support for open AI models could offset a potential slowdown in demand for the semiconductor giant’s chips.Shares in Nvidia were slightly lower after the $12.93bn (£9.57bn) deal – which ranks among its biggest ever – was announced for the database of AI models on Thursday. Continue reading...
theguardian.com
How climate denialism finds its way to the US 's highest office – video explainer
Although it's scientific consensus that the climate crisis is happening, climate change denialists have found support in the highest office during the second Trump administration and significantly influenced current climate and environment policies. The Guardian's fossil fuel and climate reporter Dharna Noor explains why such rhetorics could be dangerous for our planet Continue reading...
cnbc.com
Hugging Face approached Nvidia’s Huang weeks ahead of $12.9B acquisition, CEO tells CNBC
Nvidia CEO Jensen Huang said that with Hugging Face, the chipmaker will "expand access to AI for developers and institutions worldwide."
bbc.co.uk
Nvidia strikes $12.9bn deal to buy AI platform Hugging Face
The deal gives Nvidia control of a leading open-source AI platform and developer community.
theguardian.com
Nobel laureate Machado: ‘Illegitimate’ Venezuela regime has no right to strike US oil deal
Opposition leader says interim government lacking democratic mandate to negotiate on natural resources• The US and Venezuela: a century-old relationship drenched in oilThe Venezuelan opposition leader María Corina Machado has questioned Donald Trump’s oil deal with Venezuela’s interim government, saying the country’s natural resources do not belong to “an illegitimate regime”.In her first public comments since Trump announced what he called “the biggest oil deal in world history” with Venezuela last Friday, Machado walked a diplomatic tightrope between challenging the agreement and trying not to rile the White House. Continue reading...
cnbc.com
NFL set for first-ever game in Melbourne, Australia, in international expansion
The San Francisco 49ers and the L.A. Rams are playing the NFL's first-ever game in Australia, marking an expanded push to grow the game internationally.
bbc.co.uk
Trump $1 coin makes him first living president on US currency in a century
The US Mint special edition is stamped with a portrait of Trump alongside the words "LIBERTY" and "IN GOD WE TRUST"
theguardian.com
Yen soars as Bank of Japan tipped to raise interest rates
Jump lifts currency to highest level against dollar in a month, while global markets remain jitteryBusiness live – latest updatesThe Japanese yen has soared by more than 2% against the dollar amid speculation the Bank of Japan is set to raise interest rates.The latest jump on Thursday lifted the yen to its highest level against the dollar in a month, at 155.57, and followed a 0.9% move the previous day. Continue reading...
cnbc.com
Iran strikes Kuwait as Trump says renewed Mideast hostilities will not last 'too long'
On Thursday, Kuwait's army said it was confronting hostile missile and drone attacks from Iran.
cnbc.com
Hidden China risks are emerging in America’s multibillion-dollar AI data center boom
U.S. AI data centers rely on China-linked supplies of transformers, batteries and optical gear as Washington moves to tighten restrictions on foreign equipment.
bbc.co.uk
Households warned gas price spike could pile fresh pressure on energy bills
Experts warn low storage levels could push up gas prices further, leaving households with higher bills.
theguardian.com
John Lewis to launch YouTube chatshow to improve AI search results
Department store chain’s Gift List ‘vodcast’ will be hosted by TV presenter Angela ScanlonBusiness live – latest updatesJohn Lewis is launching an online chatshow and social media studio to help make itself and its products more visible to chatbots and more prominent in AI search results.The department store chain’s Gift List “vodcast” hosted by the TV presenter Angela Scanlon will air on YouTube with clips disseminated via other social media channels and comes after the success of its sister chain Waitrose’s Dish podcast. Continue reading...
bbc.co.uk
B&Q and Five Guys among firms that paid staff below minimum wage
More than 600 companies underpaid staff, with £4m returned to workers, according to the government.
theguardian.com
The plastic waste overtaking New York – and the people trying to curb it
From New York to Quebec, photographer Bryan Anselm spent months capturing spaces overrun with plastic and the actions individuals and groups are taking to reduce wasteIn New York City, the plastic we discard has a way of remaining in plain sight. There are few alleys to hide residents’ refuse, and the clear recycling bags leave their contents on full display. In a city built on a dense grid, lightweight wrappers, bags and bottles spill from overflowing bins and skitter down sidewalks, collecting in gutters and corners before the wind carries them on.All that plastic is a layer of the urban landscape, as familiar as subway grates and fire escapes, revealing a messy and unflattering aspect of city life. “Garbage is not what we cast out, but the prime locus of meaning in our lives,” the character Nick Shay says in Don DeLillo’s Underworld. Continue reading...
theguardian.com
Crypto billionaire pardoned by Trump gives Reform UK another £4m
Party confident money from Ben Delo will not be caught in new overseas donor capReform UK has been given a further £4m from the British crypto billionaire Ben Delo, with the party saying it is confident the businessman – who was formerly based in Hong Kong – will not be caught by the new overseas donor cap.Delo, who was convicted in the US in 2022 for failing to implement adequate anti-money laundering controls in his cryptocurrency business, before being pardoned by Donald Trump, has previously given Reform £4m. Continue reading...
cnbc.com
'Danger zone of extreme weather': UN warns of supersized El Niño set to hit global economy and markets
Latest modeling shows high risks of floods, drought and extreme heat persisting until February 2027.
theguardian.com
In 2016, Trump pledged to erase the federal debt. It just hit $40tn | Steven Greenhouse
The trillions in tax cuts going to the rich and corporations could have instead been used to address the affordability crisisDear reader, I recognize that your eyes might glaze over at any mention of the nation’s $40tn federal debt. But your reaction to this mind-boggling number shouldn’t be ennui; it should be outrage and dismay.Outrage is in order because the nation’s debt has climbed to more than $40tn under Donald Trump, even though back in 2016, when the debt was less than half what it is today, candidate Trump insisted that he’d totally eliminate the debt within eight years. That was yet another example of the Demagogue-in-Chief’s willingness to say anything, no matter how insincere or untrue, to woo voters. Continue reading...
cnbc.com
How Meta will pull off massive changes to its social media apps
Meta settled its child safety case. Now comes the hard part of actually implementing changes to its social media platforms. Here's what to expect.
cnbc.com
Anthropic's distillation battle turns to the dark web as China concerns swell
Foreign adversaries have been illegally accessing American AI systems to train competing technology, and selling copycat versions at a lower price.
cnbc.com
Putin floats 'chance' at peace with Ukraine as NATO chief warns Russia is becoming 'increasingly reckless'
Putin said peace with Ukraine remains possible while calling Kyiv’s warning on Russian airspace “state terrorism,” as NATO flags fresh risks.
theguardian.com
Sadiq Khan cleared of car tax conviction caused by ‘scam’
Magistrates in Hereford withdraw case against London mayor over untaxed Nissan Micra that is not hisUK politics live – latest updatesA car tax conviction against the mayor of London has been withdrawn after it transpired that he was targeted by a “scam” that led to him being fined for failing to tax a car that was not his.Sadiq Khan was found guilty last month under what has been described as a system of “conveyor-belt justice”, in which magistrates decide on hundreds of cases a day, sometimes spending less than a minute on each. Continue reading...
cnbc.com
China hits back at G20 statement on its reliance on exports, accusing them of 'promoting protectionism'
China rejected G20 pressure over export-driven growth while also challenging U.S. Iran sanctions and European trade measures.
bbc.co.uk
Festival hopes for more visitors amid cost rises
The festival, which includes workshops, takes place from 11 to 13 September and is in its 32nd year.
theguardian.com
UK homeowners: has the hot weather damaged your property?
Are you dealing with subsidence or other issues caused by the hot weather? During a dry spell, such as the successive heatwaves that affected some parts of the UK this year, houses built on clay-rich soil suffer as moisture is sucked away by trees and bushes. This causes the clay to shrink and foundations to drop, causing structural problems.We would like to speak to homeowners who are dealing with damage to their homes which is likely to have been caused by this year’s extremely hot, dry weather. Continue reading...
bbc.co.uk
Free travel pilot scheme for young people approved
The 29-week scheme for those aged five to 18 will run from February and is expected to cost £7.6m.
theguardian.com
Housebuilder Crest Nicholson warns of annual loss in ‘subdued’ property market
Firm will complete fewer homes than expected in year to 31 October – between 1,350 and 1,400The British housebuilder Crest Nicholson has warned of a surprise loss this year as it bemoaned difficult trading in a “subdued” property market.In an unscheduled trading update, the company said it would complete fewer homes than expected in the year to 31 October – between 1,350 and 1,400, down from its previous estimate of 1,400 to 1,500. Continue reading...
cnbc.com
Dutch central bank moves gold bars out of U.S. and Canada, citing ‘crisis preparedness’
DNB said gold stored with the Bank of England is more readily tradable, allowing it to be deployed more quickly in a severe crisis.
theguardian.com
Child sexual abuse survivor alleges Elon Musk’s AI chatbot used photos of her to generate new illegal images
Musk denied he was aware Grok ever produced ‘any naked underage images’A survivor of child sexual abuse has sued Elon Musk’s artificial intelligence company, alleging that its chatbot used pictures of her abuse to generate new illegal pornographic images that depict her.“Using real images of Plaintiff and class members, Grok generated child pornography depicting Plaintiff and class members,” states the complaint, which was filed last week in a US district court in California. Continue reading...
bbc.co.uk
How much should you give towards a leaving gift?
We ask workers in London how much they'd contribute.
theguardian.com
China’s demise was gleefully predicted by the west – meanwhile, it built an AI revolution | Larry Elliott
Free AI models that are as good as the investment-hungry US versions will disrupt global markets, and offer Britain a lessonAlmost from the moment it began, the end of the Chinese economic miracle has been much anticipated. Thick and fast, the books have come explaining how it will end badly. Overinvestment. A country wallowing in debt. The collapse of the property market. Political repression. The demand for democracy from a growing middle class. All have been put forward as reasons for the inevitable terminal crisis.Even those impressed by the country’s rapid growth took comfort from the notion that the west would continue to dominate advanced manufacturing while China would be stuck assembling TVs. And while the wait for its much-predicted demise has gone on and on, China has become the workshop of the world.Larry Elliott is a Guardian columnist Continue reading...
bbc.co.uk
Almost half of households do not see benefits of economic growth, report says
Analysis has found a "stark" gap in the spending power of households in the north and south of England on average.
bbc.co.uk
'We've raided this shop many times - we keep finding fake cigarettes'
There's been an “explosion” in the sale of illegal tobacco in Scotland, according to Trading Standards.
bbc.co.uk
Hundreds of North Sea workers too heavy for new helicopter rules
Workers should weigh no more than 19.5st fully clothed so that they can be winched to safety in an emergency.
theguardian.com
London’s first self-driving taxis for hire hit the streets
Wayve robotaxis added to Uber app and will have human in front ready to take over if needed – but only 15 cars licensedLondoners are now able to hire self-driving taxis for the first time, after rides in Wayve’s autonomous vehicles were added to the Uber app on Thursday.The chances of landing a robotaxi on request immediately are slim, with only 15 vehicles so far licensed. That contrasts with the more than 100,000 private hire vehicles in the capital – roughly the same number of Uber customers who have registered to take autonomous rides. Continue reading...
bbc.co.uk
Heathrow expansion an 'outdated' risk, mayor says
Sir Sadiq Khan is repeating his opposition to a third runway in response to a government consultation.
cnbc.com
China's slowdown pushes New Zealand exporters to diversify away from their top buyer, RBNZ official tells CNBC
New Zealand exporters are diverting shipments bound for China to new markets, as demand from the country's top buyer cools, a central bank official tells CNBC.
cnbc.com
The world appears to be entering a higher-rate era. Here’s who will pay the price
The bond sell-off is owed to a mix of high government debt issuance, an oil-price shock that has reignited inflation concerns, and expectations of higher rates.
theguardian.com
There’s a quick way to slow climate change. Why isn’t everyone doing it? – podcast
Methane is a potent greenhouse gas that traps more than 80 times as much heat than carbon dioxide over a 20-year period and causes 25% of global heating today. We definitely don’t want this gas spewing needlessly into the atmosphere, but in 2023 that’s exactly what environment editor Damian Carrington found was happening when he reported on 1,000 super-emitting methane leaks across the globe. Now Turkmenistan, the worst country for mega-leaks, has begun to plug them. Damian tells Madeleine Finlay why some experts call stopping leaks the climate ‘emergency brake’ and reveals which countries are still failing to act‘Breakthrough’ as Turkmenistan starts fixing ‘mindboggling’ methane mega-leaksSupport the Guardian: theguardian.com/sciencepod Continue reading...
theguardian.com
‘A crisis of authenticity’: the truth about food influencers
Instagrammers have upended the British restaurant scene, and amassed followings in the millions. But has their moment already passed?In 2017, two aspiring YouTubers going by the name Topjaw published a video posing the London foodie’s most important question: what to eat in Chinatown? They enlisted the help of longtime Instagrammer Kar-Shing Tong (better known by his username @ks_ate_here), who took them on a lovingly curated loop of the neighbourhood. Cantonese siu mei duck at Four Seasons, Chongqing-style handmade noodles at the now defunct Little Wooden Hut, and Barshu on Frith Street, where they decadently cracked a whole crab for the camera. Any of the 100,000-odd viewers who watched it at the time would be well served by its responsible (if unspectacular) recommendations. But in retrospect, the video may be of more interest to historians. In its unassuming and rapidly cut seven minutes, you can almost see the tectonic plates of the food world begin to shift.Tong is the elder statesman: the @ks_ate_here account began in the social media dark ages, first on Twitter then on an Instagram that was dominated by static photography. He’s in his element in the video, dutifully explaining the history and technique behind the dishes. He is relaxed and affable in front of the camera, but in his own work he doesn’t show his face often – it just wasn’t the style. Topjaw is something different. Nine years ago, it was still embryonic: host Jesse Burgess sweating profusely at any hint of chilli, cameraman Will Warr unable to use chopsticks. But the formula was there. The constant checking in to see if what they’re eating truly is “the best”. Even doubled over from the heat of a spicy fish soup, Burgess’s eyes always find the camera. He holds out food for inspection and addresses the imagined viewer. The audience is out there. “KS has 40,000 Instagram followers! 40,000!” Burgess says, pointing at Tong with aspirational glee. Continue reading...
cnbc.com
Why Hilton calls this Asian country the fastest-growing tourism market
Hilton says one Asian country is the most exciting global tourism market as regional travel surges.
bbc.co.uk
Who is Alejandro Betancourt, colourful oil baron behind US-Venezuela oil deal?
The 46-year-old figure of international intrigue has an apparent knack for being in the right place at the right time.
theguardian.com
Dutch central bank moves 86 tonnes of gold to UK from US and Canada, citing ‘geopolitical unrest’
Bank says gold reserves held in London could be traded more easily and the move will allow it to respond more rapidly in a ‘crisis situation’The Dutch central bank says it has moved 86 tonnes of its gold reserves out of the US and Canada to London, citing “increasing geopolitical unrest”.De Nederlandsche Bank (DNB) said gold reserves held in London could be traded more easily than those held in New York and Ottawa. Continue reading...
bbc.co.uk
Uber launches UK's first robotaxis with a driver - here's what it's like to ride in one
The ride-hailing app has launched 15 self-driving taxis, but they will have safety drivers inside.
bbc.co.uk
Stingy bosses and spare change: How much should you give to the office whip-round?
Office whip-rounds are a staple of working life but they can raise a lot of awkward questions.
bbc.co.uk
How Victoria Beckham turned her fashion firm around and made it profitable
The pop star formerly known as Posh Spice has taken nearly two decades to turn a profit.
bbc.co.uk
Why wait? Business grads buying firms to install themselves as CEO
Impatient to be the boss of an established company they are borrowing money to fund their purchases.
theguardian.com
China’s falling emissions amid Iran war spark hope of decarbonisation watershed
Oil consumption plummets and EV sales soar as analysts say demand may not fully return even if crude price fallsChina’s carbon dioxide emissions fell by 1% after the outbreak of the US-Israeli war on Iran, thanks to a sharp reduction in oil consumption and a steady rise in the use of electric vehicles and public transport, analysis shows.The report reveals the role of clean energy in cushioning the price shocks caused by the strait of Hormuz crisis to the world’s biggest oil importer. It also reinforces hopes that China, which is the world’s biggest greenhouse gas emitter, may be nearing a turning point in decarbonising its economy. Continue reading...
theguardian.com
Private equity owns 11 of England’s 20 biggest children’s care providers, research finds
Investigation comes amid growing calls for an end to ‘obscene’ profit-making in care sectorPrivate equity companies and sovereign wealth funds now own or partly own 11 of the 20 largest providers of fostering and children’s homes in England, as calls to ban “obscene” profit-making in children’s care grow.An investigation by the thinktank Common Wealth found the “big four” independent fostering agencies – which provide almost a quarter of fostering placements in England – have siphoned more than £200m from taxpayers to shareholders in interest payments since 2020. Continue reading...
theguardian.com
Apple Maps renames Lake Ontario as ‘Lake America’ for US users after Trump order
Tech company submits to controversial Trump order to rename body of water amid US trade spat with CanadaApple has renamed Lake Ontario as “Lake America” for US users of its Maps app, after an executive order from Donald Trump to change the name of the Great Lake amid his trade spat with Canada.The Apple Maps app now displays the controversial new name for the lake, which sits between New York state and the Canadian province of Ontario, for users in the US. Apple users outside the country will still see the Lake Ontario name. Continue reading...
theguardian.com
The Guardian view on Kemi Badenoch and the economy: a plan stuck in the Tory comfort zone | Editorial
The Conservative leader’s choice of a new shadow chancellor shows a lack of insight into the reasons why the party was defeated at the last electionTo outlast a prime minister always counts as some kind of achievement for an opposition leader, although Kemi Badenoch cannot claim credit for Sir Keir Starmer’s downfall. Sir Keir’s wounds were mostly self-inflicted. To the extent that opposition pressure was involved, it was electoral threats from Reform UK and the Green party that stoked Labour party frustration to a regicidal pitch. The Tory leader’s role was largely as a spectator.Mrs Badenoch still hopes to use regime change to her advantage. She thinks the economy, and fiscal discipline in particular, will be her most fruitful line of attack. In their first confrontation at prime minister’s questions on Wednesday, the Conservative leader called Mr Burnham a “spendthrift” and “people pleaser” who will dodge the tough decisions required to prove Britain’s creditworthiness on international markets. She expects him to yield to Labour MPs’ demands for budget increases, which will then have to be financed with tax rises.Do you have an opinion on the issues raised in this article? If you would like to submit a response of up to 300 words by email to be considered for publication in our letters section, please click here. Continue reading...
bbc.co.uk
Netherlands moves billions in gold to London in 'crisis preparedness' move
The Dutch central bank removes some of its gold reserves from the US and Canada, saying it is because of "increasing geopolitical unrest".
theguardian.com
Ben Jennings on the rise of datacentres in Britain – cartoon
Continue reading...
theguardian.com
Burnham beware, the bond markets will demand proper answers in the budget | Nils Pratley
Fair to say the current sell-off is international, but the PM has said little yet to make investors rethink the UK’s statusIt’s too soon to say the bond markets have turned on Andy Burnham. Tuesday’s spike in gilt yields, taking the UK’s 30-year borrowing costs to their highest level since 1998, was part of an international sell-off of government debt.The main contributors are well known. The Iran war, by increasing the cost of energy, has overturned the comforting start-of-the-year thesis of falling global inflation and interest rates. A plunging Japanese yen has kicked away another assumed source of financial stability. The US treasury secretary, Scott Bessent, hasn’t calmed nerves with his solo, and so far futile, attempt to bring down US yields. Meanwhile, the early stage of the AI revolution is an exercise in issuing squillions of debt before long-term returns on capital can possibly be assessed meaningfully. Continue reading...
bbc.co.uk
Uber to cut over 3,000 jobs in major global restructuring
The company says cutting roles would make its operations "simpler and faster".
theguardian.com
The $1 Trump coin: legal tender, depending on what you mean by legal
Various laws and 250 years of tradition prevent the likeness of living people from appearing on currency. Donald Trump and Scott Bessent don’t want you to worry about thatThis was originally published in This Week in Trumpland. Sign up to receive it in your inbox every WednesdayTwo hallmarks of Donald Trump’s second-term: the president’s enthusiasm for putting his name and face on things, and his cavalier approach to established law.Today the president is once again combining both those interests, as the government releases a $1 coin bearing his image, an item of currency that scholars say should be illegal, but which is happening anyway. How many times have you heard that in the last 18 months? Continue reading...
bbc.co.uk
Lords call for AI 'kill switch' powers in UK
Its backers say it would provide a "vital safety net" against runaway AI systems such as those from OpenAI and Anthropic.
bbc.co.uk
The struggle to shut down the illegal tobacco trade
There's been an “explosion” in the sale of illegal tobacco in Scotland, according to Trading Standards.
bbc.co.uk
Faisal Islam: Why bond market wildfire is keeping world leaders up at night
Huge AI spending plans and the ongoing war in Iran are driving up borrowing costs around the world.
theguardian.com
Taxing the banks: what Europe’s windfall levies brought in as Burnham eyes his next move
Ahead of a crucial budget, four countries’ experiments offer a mixed verdict on how to tax bumper profits The countdown is on. Two months out from Andy Burnham’s inaugural autumn budget, bank executives are wringing their hands over whether the government will target their bumper profits with fresh taxes.The chancellor, John Healey, is reportedly considering a windfall tax on both banks and oil companies in the late October Westminster setpiece. Continue reading...
theguardian.com
Trump’s ridiculous bullying of Canada is backfiring | Robert Reich
The US president’s need to assert dominance is igniting patriotism abroad and a backlash at homeWhat do bullies do when someone stands up to their bullying and punches them in the face? They look for someone weaker to bully who won’t punch back.Presumably that’s why Donald Trump has now taken on Canada, after Iran punched back so hard in the cage match the US president began more than six months ago as to leave him humiliated and baffled. Continue reading...
theguardian.com
Freelancers are getting buried with ‘soulless’ AI slop cleanup: ‘It’s a shame we need to do it’
As more companies turn to AI, they’re hiring freelancers to clean up its mistakes rather than create original workLisa, a freelance graphic designer based in Spain, noticed a shift in her work after the release of ChatGPT in 2022. She went from receiving slow one-off jobs creating logos and packaging to an onslaught of requests asking her to fix versions that were generated by artificial intelligence – from sharpening fuzzy images for printing to turning flawed designs into usable files.By 2025, Lisa, who asked not to be fully named to avoid solicitations, said 90% of her incoming logo and packaging design requests required cleaning up AI-generated content, work that accounted for 60% to 70% of her annual income. But the grind was exhausting. Clients lowballed her;' some AI-generated designs were so flawed that she had to recreate them from scratch and she worried about being complicit in AI-driven copyright infringement. By the end of the year, she began turning those jobs down. Continue reading...
bbc.co.uk
Why are UK borrowing costs rising and what does it mean for me?
Some government borrowing costs have hit their highest level for 28 years - what does it mean for you?
theguardian.com
This data has helped fight workplace discrimination for 60 years. The Trump administration plans to delete it
Enforcing civil rights without these reports will be difficult for the Equal Employment Opportunity Commission, pushing US agency closer to Trump’s agenda, experts warnThe US civil rights agency mandated to protect equal rights for workers is set to stop collecting data on the demographic makeup of companies – which for the past six decades has been used to enforce anti-discrimination laws.The move marks a fundamental shift for the Equal Employment Opportunity Commission (EEOC). Without this data, it will be much harder for the agency to identify widespread cases of discrimination in hiring and promotions, experts and former employees of the commission say. And, they warn, it will bring the Trump administration one step closer to reshaping the commission from an independent watchdog into an arm of the executive branch narrowly focused on advancing the political grievances of Donald Trump’s base. Continue reading...
theguardian.com
Thames Water, I refuse to pay the sewage charge in my bill while you pollute Britain’s rivers and coastlines | Jenny Jones
I will calmly read all the threatening letters and await the court case against me. But I will take a stand even if our government won’tI can’t even remember when I decided to stop paying the sewage element of my Thames Water bill. It might have been after reading this headline from the Guardian in July 2025: “Serious pollution incidents by English water companies rose 60% last year,” with the subheading: “Environment Agency records 75 serious incidents among total of 2,800, with Thames Water being worst offender.”Living in London means that my supplier is Thames Water, which makes a profit out of pollution. I decided that if the government wouldn’t act, I could at least do my part and not pay for this travesty.Jenny Jones is a Green party peer Continue reading...
theguardian.com
Fake 10 Downing Street listing on Booking.com highlights security failures
Consumer watchdog Which? set up and accepted payment for fake listing for ‘1 bed apartment in heart of London’Successive politicians have clawed their way past colleagues over the years to call the residence home. Yet in an offer that probably seemed too good to be true, the property site Booking.com has been accused of “systemic security failures” after it was able to set up and accept payment for a fake listing for 10 Downing Street.A property listed as a “1 bedroom apartment in the heart of London” – with the exact address and a picture of the prime minister’s home – was listed on 18 June by researchers from the consumer watchdog Which?. Continue reading...
theguardian.com
Britain is OK with public ownership, but only by foreign powers. Why?
Arthur Downing, author of Power and the People: A History of British Energy, says all-encompassing rapid transition will need a mutualised systemHave you ever wondered why it is that most houses in the UK are reliant on gas boilers? Not what’s stopping more people from replacing them with heat pumps, but instead why and how the gas boiler became so ubiquitous in the first place?Arthur Downing, the author of the new book Power and the People: A History of British Energy, can tell you exactly why. “We only have boilers in our houses because of a state-owned enterprise that went into everybody’s home and installed natural gas-suitable appliances at no direct cost,” he says. The nationalised gas industry of the 1940s to the 1980s, which oversaw this huge project, was for three decades one of the “most dynamic, innovative, efficient industries in Britain”, Downing says. Yet few of us would use these terms to describe it as such now. Continue reading...
cnbc.com
Scaramucci says he had 'Potomac fever' in the White House — and Bessent and Lutnick have it too
"You think you're smarter than the people that live in Washington, but Washington changes you, you don't change Washington," Anthony Scaramucci told CNBC.
theguardian.com
My autistic son lives in fear of bailiffs from Ovo breaking into his flat
He doesn’t have an account with them, but is being bombarded with demands for money and threats of debt collectorsMy autistic son has been bombarded for years by letters to his home from OVO Energy addressed to “The Occupier”, with demands for money and threats of debt collectors. He is supplied by Scottish Gas.He was required to let an OVO agent into his flat to “prove” he didn’t have an OVO meter. Neither this, nor countless phone calls, has stopped the demands. Continue reading...
bbc.co.uk
Will self-flying planes transform the skies?
Autonomous crop-spraying aircraft are leading the way in pilot-free flying.
bbc.co.uk
Kids eat free and loyalty points - six ways to eat out but not break the bank
The cost of dining out is getting increasingly hard to swallow - but clever planning can get you cheaper deals.
bbc.co.uk
Business Daily
Poppi founder Allison Ellsworth: Cider vinegar, Shark Tank and riding the 'wellness wave'
theguardian.com
‘I feel like I’m grieving’: staff on the devastating fallout of widespread layoffs at Xbox
Last month, Microsoft’s gaming division told its workforce it was cutting 3,200 jobs, which some say will have big ramifications for game development – as well as taking a huge personal tollOn the morning of 6 July, an email went out from Asha Sharma, the chief executive of Xbox, to all of the division’s employees around the world. Under the headline “Resetting Xbox”, it announced the most significant restructuring in the history of Microsoft’s console business: 3,200 staff would be laid off throughout the financial year to 2027, and 1,600 of those roles would be eliminated immediately.An hour later, at studios throughout company, the Teams meeting invites started arriving. “It was a virtual call with our studio manager,” says Anne Barrett, who was laid off from Bethesda Game Studios Austin. “All of our cameras and microphones were turned off so we weren’t able to say anything or react to anything. We were just brought in, told the news and it was like: ‘You guys are going to lose access to your Slack channel.’ So you saw a flurry of goodbye messages before everything was just shut off.” Continue reading...
theguardian.com
From milk to sausage rolls: how vending machines could help tackle UK ‘food deserts’
Selling direct to public helps squeezed farmers control prices and improves access to food in rural areasFizzy drinks, packets of crisps and bars of chocolate: for decades, vending machines were known as a place to grab a quick snack.Now one family of farmers is trying to change that by bringing vending machines offering fresh milk and local produce – including scotch eggs, sausage rolls and brownies – to villages and other rural locations. Continue reading...
theguardian.com
Could this humble sea sponge clean up the world’s ports?
The chicken liver sponge has sailed through a test of its ability to filter pollutants in a harbour in Spain’s Costa BravaIn the polluted waters of Marina Palamós on Spain’s Costa Brava, Manuel Maldonado, a sponge biologist, noticed something unusual last month: red starfish had started settling in the area.Nearly two years earlier, the Spanish National Research Council scientist and his colleagues had begun transplanting sea sponges into the port to study whether they could survive in its polluted waters. Continue reading...
theguardian.com
My abusive and aggressive partner left me but O2 insists I meet him in person
I need to take him off my family account, but it says the only way is for him to join me for a joint call with O2My partner packed up and disappeared with his children while I was out with friends. I was left having to foot all our bills, including rent, which has made me financially stressed.We had a family plan with O2 which meant family phones were all registered to my account. When my partner left, he stopped paying his share of the monthly phone bill, so I set about trying to remove his, and his children’s, phones from the account. O2 explained he would need to join a conference call with me and O2 to agree the transfer of the numbers in question. Continue reading...
theguardian.com
‘A huge learning curve’: apprentices on the benefits and pitfalls of vocational training
While many young people have found jobs and built careers, some have struggled to complete their coursesThe crisis in the youth employment market, with almost a million young people not in education, employment or training (Neet) across the UK, has placed fresh emphasis on ways of getting employees into the workforce.The government hopes to increase focus on technical and vocational learning in England from the age of 14. In parallel, there is an ambition to create thousands more apprenticeships. Continue reading...
theguardian.com
Child trust fund firms face review over efforts to find who owns £1.5bn worth of pots
Exclusive: FCA pressures firms to do more to sort 760,000 accounts as watchdog urges families to use free tracking serviceChild trust fund providers are being put under the spotlight to check they are treating savers fairly and doing all they can to reunite young people with lost accounts.The Financial Conduct Authority (FCA) said about 760,000 accounts worth an average of £2,000 were yet to be claimed – more than £1.5bn in total – as it launched a review of the market. Continue reading...
bbc.co.uk
'My parents won't lend me £10k but helped my brother': When families play financial favourites
So-called financial favouritism can cause jealousy and resentment long into adulthood. Here is how experts say you can avoid it
bbc.co.uk
Overcooked? Why robotic pizza makers are failing
A string of failures has sapped confidence that robots will take over production at pizza restaurants.
bbc.co.uk
How Dolly Parton's business savvy helped her succeed far beyond the charts
While country music and films brought her fame, her entrepreneurial zeal brought her fortune.
bbc.co.uk
Firms scramble for battery power in Spain and Portugal
After last year's massive power failure Spanish and Portuguese firms are buying battery back ups.
bbc.co.uk
Drought leaves 'barely any apples' to make cider
Some orchards are harvesting just a 10th of their usual crop, and facing an uncertain future.
bbc.co.uk
'What you see is what you pay' - why some US restaurants are banning tips
Tips are central to US dining culture but some eateries think that they are unfair.
bbc.co.uk
How landscape gardening is being electrified
The switch to quieter electric equipment is not going as fast as some would like.
bbc.co.uk
Why the UK is dithering over what to do about e-scooters
Why is it taking so long for the government to regulate them, and what are the consequences of delay?
bbc.co.uk
Why Gen Z are planning for life without a state pension
Many younger people do not believe the state pension will exist when they are older
bbc.co.uk
The furious dispute over what caused Air India flight 171 to crash
The final conclusions of the investigation have yet to be published, although more could become apparent in the coming days.
bbc.co.uk
How the High Street became a window on our political instability
High Streets have declined in recent years. What does this tell us about the UK?
bbc.co.uk
The £5 coffee that tells a story of global economic turmoil
Coffees at some city centre outlets now cost £5. It's a story of tariffs, the climate, Gen Z cultural tastes, and savvy coffee farmers playing the market, writes Faisal Islam
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